The implementer of a Ghana-based project that aims to deploy wireless network connections to provide fast internet access is seeking financing to the tune of $2.5m. The funding would commence the first phase of the project, which involves the acquiring of hardware and soft-ware, and working capital to cover operational and start-up expenses.
Description of the project
Teligent Wireless, a telecommunications services provider licensed in Ghana, seeks initial funding of $2.5-million to deploy wireless network connections to provide direct access to high speed internet access nationwide. The company proposes to fund the remaining phases of the project organically or via loans.
The Wi-Fi mesh will be built using high gain Omni directional Base Stations. These Base Stations are self-healing and can provide self-backhauling which will allow continuous communication from the user’s equipment to the administrative
platform when connected to any base station using Client Premise Equipment (CPEs).The proposed architecture is designed with a high density of 500 base stations to provide for more access without CPEs.
The set-up and technology has been tested with success in Ghana, and is currently performing similar functions in Rwanda, China and Brazil.
Investment Guarantees in Ghana
Free transfer of capital, profits and dividends: The GIPC Act 478 provides guarantees to all enterprises free transferability through any authorized dealer bank in freely convertible currency of dividends or net profits attributable to the investment. Guarantee against expropriation of private investments is provided under Act 478 of the constitution.
Insurance against non-commercial risks: Ghana is a signatory to the World Bank’s Multilateral Investment Guarantee Agency (MIGA) Convention. The convention guarantees
coverage against certain risks.
Double Taxation Agreements: Ghana also uses Double Taxation Agreements (DTAs) to rationalise tax obligations of investors who come from global tax sourced jurisdictions with a view of saving the investors incidences of double taxations. Ghana signed and ratified DTAs with France, Germany and the United Kingdom, and is in the process of ratifying agreements with Belgium, Italy and Yugoslavia.
Investment Promotion and Protection Agreements: Ghana offers commitments at the bilateral level to protect investors and their investments. There are 21 concluded Investment Promotion and Protection Agreements to date.
For further information on this opportunity contact the Ghana Investment Promotion Commission (GIPC).
Key contact:
Edward Ashong-Lartey
Director, Promotions & Public Relations
eashonglartey@gipcghana.com
Article source: OSEC
